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Early drop has key support near overnight lows at S&P 2317

good am-  Trend remains NEGATIVE for US equities and still looks likely to extend LOWER this week, with targets near 2285-95 for S&P futures, and a max near 2255-65 which would represent only a 1/3 retrace of the entire move up from Election time last Nov-  Bonds higher but yields nearing key support near Jan/Feb lows while the US Dollar has broken down under early Feb lows which were thought to be important and nearing the entire intermed. term trend from last April/May-  For today specifically.  the followthrough post Trump Healthcare reform failure saw futures open negative last night, crashing below lows of the last few days and this continued into around 2 am before attempting to bounce-  this past hour into 8:30 has seen prices now reverse back down to multi-HOUR lows and a test and break of earlier lows at 2317 looks likely, and this will be the first key area of downside importance with little under that until near 2300 and 2385-95 area.   Treasury yields and the US Dollar look to be closer to support than Equities.. so would expect some stabilization here first with equities to follow- Metals and Crude lower, though Precious metals UP.. but Iron ore, and steel rebar down 2-3% and Metals stocks following suit to these.. with CLF, AKS, FCX, X, AA all down 2-5% in pre mkt-   Overall, Expect trading lows here by early April for US Equities and lead to an oversold bounce- For now though, anything more than an intra-day bounce looks premature and further selling still likely with targets around 30 S&P points lower-  Favor Utilities, while avoiding Financials, Discretionary, industrials and Healthcare over next few days-  Early pre am Movers:  MTNB, WFT, MIK, SNAP, RACE, while on downside- ARQL, GIII, and most metals stocks, as mentioned above-  Let me know if you have questions-